Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 4 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 25 Sep 2017 My Price 9.00

Taveras Enterprises

(Disclosures: Pension Expense and Other Comprehensive Income) Taveras Enterprises provides the following information relative to its defined benefit pension plan.

Balances or Values at December 31, 2012

Projected benefit obligation

$2,737,000

Accumulated benefit obligation

1,980,000

Fair value of plan assets

2,278,329

Accumulated OCI (PSC)

210,000

Accumulated OCI—Net loss (1/1/12 balance, –0–)

45,680

Pension liability

458,671

Other pension plan data:

  

Service cost for 2012

94,000

Prior service cost amortization for 2012

42,000

Actual return on plan assets in 2012

130,000

Expected return on plan assets in 2012

175,680

Interest on January 1, 2012, projected benefit obligation

253,000

Contributions to plan in 2012

93,329

Benefits paid

140,000

Instructions

(a) Prepare the note disclosing the components of pension expense for the year 2012.

(b) Determine the amounts of other comprehensive income and comprehensive income for 2012. Net income for 2012 is $35,000.

(c) Compute the amount of accumulated other comprehensive income reported at December 31, 2012.

Answers

Maurice Tutor
(5)
Status NEW Posted 25 Sep 2017 06:09 PM My Price 9.00

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